Decision details

The Executive considered two reports that

(i)      outlined the summer review of the Council’s Medium Term Financial Plan (MTFP) and consequentially revised 2017/18 to 2020/21 budget saving requirement; the Council’s draft efficiency plan to be submitted to the Department for Communities and Local Government by 14 October 2016;  the proposed Reserve Policy, and

(ii)     set out the Executive’s response to the updated MTFP position and proposed initiatives the Executive was bringing forward to shape or reform programmes and address wider challenges over the medium term; business cases for proposed changes to address the spending reduction requirement for 2017/18.

It then agreed that:-

(1) in relation to the Medium Term Financial Plan (MTFP) Update:

·         the outcomes of the MTFP Summer Review and the revisions to assumptions and MTFP forecasts detailed in Appendix 1 of the report be noted;

·         the revised MTFP saving requirements following revisions to assumptions and MTFP forecasts detailed in Appendix 1 of the report be noted;

·         the adjustments to the MTFP set out in the report and the revised saving requirements be approved;

·         the revisions to the Reserves Policy following review at the Council’s Scrutiny Committees be noted;

·         the Reserve Policy and subsequent realignment of reserves detailed in Appendix 3 and 4 be adopted, subject to the inclusion under para 3.2 ‘Infrastructure Investment Reserve’ of the sentence ‘and for additional infrastructure, where necessary, to protect existing council assets,’ after the word maintenance.

(2) in relation to the MTFP – Executive Response and Proposals:-

·         for planning purposes a proposed recommendation to increase Council Tax by 3.99% in 2017/18 be agreed;

·         the finalising and submission of the Council’s Efficiency plan be delegated to the Borough Treasurer in consultation with the Leader of the Council (Policy, Finance & Devolution) and the Executive Councillor (Reform & Governance).

·         progress in developing programmes for radical reform described in the working papers be noted and agreed;

·         the Executive Proposals set out in draft business cases be agreed for public and workforce consultation as detailed in the report, and that these be referred to the relevant scrutiny committees for consideration.

None